Global Halal Food Market: Trending in 2021
New York, NY 28 May 2021: The global Halal Food Market is anticipated to reach USD 922.53 billion by 2026 according to a new study published by Polaris Market Research.
The Halal Food market growth is primarily due to increase in Muslim populations and their rising annual spending on food. This has created a surge in demand for halal food & beverage products. Increasing demand has also compelled market players to engage in authentic and branded products. Presently, consumers are exhibiting growing interest in halal industry. This is primarily due to the increasing consumer awareness about the nutritional and hygiene advantages, and improving lifestyles as a result of increasing disposable income. These products being processed and packed with much higher regulatory compliance compared conventional food products are gaining significantly popularity. Basically, they do not contain contents or ingredients that are against Islamic beliefs.
Halal foods are expected to be produced, packaged, stored, and distributed as per Islamic teachings. Moreover, these products are considered to be safe, clean, and highly nutritional. The significant growth in Muslim populations across the globe is expected to offer immense opportunities to Halal Food market. In addition, the rapidly accelerating economic power of Islamic countries is anticipated to largely influence them to spend additional money on the branded products.
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The growing issues over the absence of proper regulatory framework to assure the authenticity of these products might be a restraint to the commercially produced halal food. The industry can be considered as a fragmented one and the absence of standardized regularizations has repressed the mainstream F&B participants from venturing this section of the worldwide Halal Food market. However, the number of small scale companies meeting the needs of the local populations has been increasing significantly.
Low level of awareness about the presence of authentic halal food brands is acting as a challenge to the industry. As a consequence, the industry is not experiencing demands to its full potential as expected. Moreover, halal authentic issues within the sector are considered quiet minor among consumer. Thus, this requires manufacturers to improve their marketing strategies and production facilities. Furthermore, it becomes difficult to understand consumer perspective about halal food & beverage brands.
The Asia Pacific Halal Food market is anticipated to dominate the global market by 2026, owing to the presence of emerging nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan. These nations have significant population that follows Islamic beliefs. Moreover, the rising economic conditions in the region provides an opportunity for the foreign players to start of their production facilities, thus offering cost effective products the consumers in the region.
Some of the leading industry participants in the Halal Food market include Cleone Foods, Prima Agri-Products, Cargill, Kawan Foods, Janan Meat, Saffron Road Food, Dagang Halal, QL Foods, Al Islami Foods and Nestle.
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Global Halal Pharmaceuticals Market: Trending in 2021 New York, NY 31 May 2021: The global Halal Pharmaceuticals Market is anticipated to reach USD 34.82 billion by 2026 according to a new study published by Polaris Market Research.
The significant growth in the Halal Pharmaceuticals Market is primarily due to the rapid increase in the Muslim population, along with their improving disposable income.
As per the law, products containing the discharge of human beings or animals, and in direct or indirect contact with non-halal items.
This can be attributed to the increasing consumer awareness about the deepening beliefs and growing knowledge that pharmaceuticals contain alcohol, porcine-by products, and their derivatives, among other non-halal contents or ingredients that are against Islamic beliefs.
Recently, American pharmaceuticals companies expressed their concerns over the guidelines by Malaysia’s Ministry of Health (MOH).
These guidelines were focused towards defining the permissible items in pharmaceuticals in accordance with Islam.
According to the latest report by IMARC Group, titled “Halal Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global halal cosmetics market reached a value of US$ 66 Billion in 2018.
These products are processed, stored and produced by using utensils, equipment, and machinery that have been adequately cleaned.
To gain halal certification, manufacturers have to ensure that the offered skin care and hair care products do not contain human-based parts or materials.
Other than this, these cosmetics are not tested on animals and have to be free from ingredients that are harmful for human consumption such as mercury, lead and hydroquinone.
Although they have remained as a niche product category for years, these cosmetics have now gained immense popularity worldwide owing to the assurance of high-quality and cruelty-free products.Get a sample copy of this Report: https://www.imarcgroup.com/halal-cosmetics-market/requestsampleMarket Trends:Over the last few years, halal cosmetics have witnessed an escalation in their demand on account of improved socioeconomic conditions and increasing awareness among Muslim consumers, particularly the younger generations.
Currently, the market is dominated by personal care products which include a wide variety of skin care, hair care and fragrances categories.
